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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHILE
The combination of broad dollar strength this week and political anxieties relating to Chile's upcoming Presidential election have prompted USDCLP to reapproach the August highs, currently up another 0.75% for Thursday's session.
- The local currency has weakened over 3% on the week.
- Slightly weaker copper prices as well as the lingering uncertainty of the constitutional re-write also weigh on the Peso in the background.
- Technical conditions reinforce a firmly bullish theme, with the noted supports well defined earlier.
- Any potential break of 795.73 should first target 800, which will likely provide both pivot and psychological resistance.
- Above here we note 806.84 which represents not only the August 2020 highs but also the 61.8% retracement from the March 2020 – May 2021 price swing.
MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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